The Republic of Cyprus (hereinafter "Cyprus") has been the target of many European Countries due to it's allegedly lack of money laundering measures that damage the European Union. Is the reaction of these European Union Countries justified?

On 28th July 2006 the Cyprus Company Law, Cap 113, has been amended to introduce the concept of re-domiciliation of companies provided certain conditions as laid down by the new Companies (Amendment) Law of 2006, Law No. 124(I)/2006 are satisfied.

Cyprus has ranked first in the EU in terms of per capita absorption of funds from ‘Horizon 2020' Research and Innovation Programme, Dr. Vassilis Tsakalos, General Director of the Cyprus RPF, has said CNA.

Globalization has rapidly and radically increased the ease in which data may be collected, stored and transmitted. The current Directive (95/46/EC) is out dated and does not correspond to today's needs.

On 28th July 2006 the Cyprus Company Law, Cap 113, has been amended to introduce the concept of re-domiciliation of companies provided certain conditions as laid down by the new Companies (Amendment) Law of 2006, Law No. 124(I)/2006 are satisfied.

On the 23 January 2018, The Code of Conduct Group of the European Council resolved the removal of eight of the originally listed 17 jurisdictions, (including UAE, South Korea and Panama) from the EU tax haven blacklist.